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Commerce Accounting Difficulty: Medium

Journal proper is issued to record . . . . . . . .

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If current ratio is 2.5 and working capital is Rs. 90,000 then the value of current assets would be Amortization of intangible Asset such as Goodwill which has indefinite life is an example of accounting concept: Vertical difference, which measures distance between estimated and actual cost for every single observation is classified as True reward for a successful agent is Given: Cash in hand: Rs. 10,000 Debtor: Rs. 20,000 Bills receivable: Rs. 5,000 Plant : Rs. 5,000 Creditor: Rs. 15,000 Net Working Capital will be